Perenco announces FID to build LNG unit in Gabon.
Details of the project.
Anglo-French oil and gas producer, Perenco has announced a Final Investment Decision (FID) for the construction of a 700,000-ton-per-year Liquefied Natural Gas (LNG) production unit in Gabon.
The independent hydrocarbon producer in 2021, acquired the Cap Lopez oil terminal in Gabon, where the LNG facility will be built.
The project is expected to result in Cap Lopez becoming an oil and gas terminal in Gabon with production targeted for 2026.
In December 2022, Perenco received technical authorization from the Ministry of Oil and Gas and other important authorities in Gabon to invest more than one billion dollars in the LNG sector.
The plant, according to Perenco will take a period of three years to construct and is expected to produce almost 700,000 tons of LNG and 20,000 tons of butane, which will make Gabon self-sufficient in butane production and an exporter of LNG.
Perenco’s General Manager, Benoit de la Fouchardiere said “we are pleased to be investing to help meet Gabon’s future energy demands, supporting the country in reducing emissions, and delivering a project that will also create hundreds of direct and indirect employment opportunities”.
Benoit noted that Perenco has been functioning in Gabon for 30 years and the investment marks an important milestone in the partnership of both parties.
The Anglo-French company, Perenco is an independent oil and gas producer that operates in 16 countries of the world and has over 6000 employees. It has its headquarters in London and Paris.
Perenco operates oil and gas licenses in Gabon both offshore and onshore and also two floating offshore storage and offloading units (FPSO). In 2021, it acquired the Cap Lopez terminal from TotalEnergies at a cost of $350 million.